2006 THIRD QUARTER RESULTS (January September)

Transcription

1 G E S T E V I S I Ó N T E L E C I N C O S. A. 24th October THIRD QUARTER RESULTS (January September) 1

2 Highlights* of Third Quarter Results (January September) 2006 Total net revenues: million (+ 4.4% vs. 9M05) Total costs (1): million (+4.7% vs. 9M05) EBITDA adjusted (2): million (+3.0% vs. 9M05) Net Profit (3): million (+7.8% vs. 9M05) EBITDA / Net Revenues 45.9% (vs. 46.6% in 9M05) EBIT / Net Revenues 45.3% (vs. 45.5% in 9M05) Net Profit / Net Revenues 32.7% (vs. 31.7% in 9M05) Audience share (January-September) All Individuals: 24h 21.3% Prime Time(4) 21.5% Commercial Target: 24h 23.1% Prime Time(4) 23.8% (1)Including amortisation of tangible and intangible assets (2) Post-rights amortisation (3) After minorities (4) 20:30-24:00h GROUP 2

3 G E S T E V I S I Ó N T E L E C I N C O S.A. BROADCASTING 2006 THIRD QUARTER RESULTS (January-September)

4 Audience Share Total Day, January-October 2006 by Months Audience share 24h, Total Individuals, October until 22nd 22,4 21,9 21,5 21,1 21,3 21,4 21,9 20,7 20,3 20,8 20,6 20,6 18,7 18,6 19,9 18,2 19,2 19,0 19,2 18,8 18,7 16,9 17,2 16,4 16,4 16,5 16,1 15,4 15,1 14,8 15,1 14,0 21,1 21,8 17,9 18,2 17,6 17,9 14,5 14,6 Jan'06 Feb'06 Mar'06 Apr'06 May 06 Jun'06 Jul'06 Aug'06 Sept'06 Oct'06 Telecinco consolidates a strong leading position, leading 8 months in a row BROADCASTING 4

5 Audience Share Prime Time, January-October 2006 by Months Audience share Prime Time (20:30), Total Individuals, October until 22nd 21,9 21,4 22,1 22,0 22,6 21,6 22,4 21,1 21,6 21,2 20,6 19,3 18,9 18,6 19,0 16,9 16,7 16,5 19,5 19,1 16,1 19,5 19,4 15,4 17,8, 16,2 13,9 19,9 19,7 18,5 16,4 15,5 14,7 14,9 18,0 18,5 17,8 17,7 14,5 14,6 Jan'06 Feb'06 Mar'06 Apr'06 May 06 Jun'06 Jul'06 Aug'06 Sept'06 Oct'06 Telecinco leads the Prime time well ahead of competitors BROADCASTING 5

6 Audience Share Commercial target, January-October 2006 by Months Audience share 24 h, Commercial Target, January-October until 22nd 23,0 22,9 22,4 21,7 15,4 15,4 14,0 14,1 23,5 21,0 15,4 13,6 22,7 24,2 23,7 23,0 23,0 22,1 24,0 21,7 21,1 18,9 18,7 18,1 18,4 18,6 14,4 14,5 15,2 15,0 13,3 13,7 13,8 12,9 12,2 11,0 12,0 12,3 11,9 11,9 Jan'06 Feb'06 Mar'06 Apr'06 May 06 Jun'06 Jul'06 Aug'06 Sept'06 Oct'06 Telecinco consolidates its Commercial Target leadership BROADCASTING 6

7 The Best Programming line-up Ranking of Programmes January-September 2006 (Audience, share % and thousand) Telecinco places 13 programmes in the top 20 ranking Channel Share Thousand 1 LIGA DE CAMPEONES TVE1 42, AQUÍ NO HAY QUIÉN VIVA ANTENA 3 30, CSI MIAMI TELECINCO 26, CSI TELECINCO 26, HOSPITAL CENTRAL TELECINCO 28, LOS SERRANO TELECINCO 25, EL COMISARIO TELECINCO 25, CSI NUEVA YORK TELECINCO 25, FÓRMULA 1 GP TELECINCO 46, GRAN HERMANO (GALA) TELECINCO 27, MIRA QUIÉN BAILA TVE1 25, AÍDA TELECINCO 27, CRUZ Y RAYA SHOW TVE1 23, VIDAS TELECINCO 21, POST F1 GP TELECINCO 38, CUÉNTAME TVE1 23, CAMERA CAFÉ TELECINCO 23, LOS HOMBRES DE PACO ANTENA 3 21, FÚTBOL: EUROCOPA CLASIFICACIÓN TVE1 26, LOS MORANCOS CHANNEL Nº5 TELECINCO 19, BROADCASTING 7

8 Leadership in Prime Time Programmes Audience Share Total Individuals (22:00-00:00), January - September Monday Lunes Tuesday Martes Wednesday Miércoles Jueves Thursday Viernes Friday Saturday Sábado Domingo Sunday CINE CINE 25,5 21,3 25,9 22,3 18,7 21,6 21,5 17,1 18,5 21,6 23,7 20,5 18,4 16,4 22,0 13,0 17,3 15,1 17,0 14,3 18,6 13,5 15,5 12,7 14,3 17,8 19,9 15,5 5,9 12,3 6,0 7,4 6,9 5,4 8,4 In 9M06 Telecinco maintains its Prime Time leadership BROADCASTING 8

9 The Best Programming line-up, OCTOBER Ranking of Programmes October from 1st to 22th) 2006 (Audience, share % and thousand) Channel Share Thousand 1 C.S.I.MIAMI 29, C.S.I.NUEVA YORK 30, FORMULA 1 59, CAMERA CAFE 23, OPERACION TRIUNFO 25, MIRA QUIEN BAILA! 22, OPERACION TRIUNFO.EL CASTING 21, AQUI HAY TOMATE 26, ANTENA 3 NOTICIAS 2 (L-V) 22, YO SOY BEA 31, Telecinco places 8 programmes in the top 10 ranking in October BROADCASTING 9

10 Leadership in all time slots, OCTOBER Audience Share 1st 22th October 2006 (in %) Total Day 21,8 18,2 17,9 14,6 Morning 21,3 16,2 18,5 14,5 Afternoon 22,0 19,5 18,9 16,2 Evening 22,1 18,7 17,0 15,7 Prime Time 21,4 17,5 18,6 14,4 PT 20:30 21,6 17,7 18,5 14,6 Late night 24,5 19,7 15,2 9,7 Daytime 22,0 18,4 17,6 14,7 Telecinco is leader in all time slots of the day in October, with audience shares above 20% BROADCASTING 10

11 Programming Mix 9M06 In-House Production vs. Library In-House Production Library M05 9M06 In 9M06 Telecinco maintains a programming mix based on in-house production BROADCASTING 11

12 G e s t e v i s i ó n T e l e c i n c o S. A. BROADCASTING ADVERTISING 2006 THIRD QUARTER RESULTS (January-September)

13 Advertising Revenues, 9M06 Telecinco* Gross Advertising Revenues (million ) + 3.9% Special Initiatives (mill ) 14.7 % 9M % % M05 9M06 9M05 9M06 Record advertising revenues have been reached in 9M06, with Special Initiatives growing at a high rate, making 14.7% of total revenues ADVERTISING 13

14 Advertising Revenues, 9M06 Telecinco* Gross Advertising Revenues (mill ) % vs. 2Q % vs. 1Q , + 6.9% vs. 3Q Q06 2Q06 3Q06 Special Initiatives High growth has been achieved in the third quarter 2006 ADVERTISING 14

15 Commercial Strategy, 9M06 Audience SHARE SECONDS GRP s (20 ) C/GRP s (20 ) Publiespaña Revenues % (%) (%) (%) (%) mill (%) 21.3% -5.3% +0.6% -6.5% +11.1% % Price increase is the main revenue driver Source: TNS and Publiespaña ADVERTISING 15

16 Advertising by Sectors Sector Breakdown (% on total Adv sales) Sector Growth (9M06 vs. 9M05) Food Other Finance +21.0% Retail 5,8% Automotive 20,7% 25,2% 9M06 14,1% 16,0% 11,5% 6,8% Health&Beauty Telecos & Energy Food Health & Beauty Automotive Retail +8.7% -9.7% +1.4% +6.5% +18.9% Source: Publiespana Telecom & Energy Finance Other +7.0% ADVERTISING 16

17 G e s t e v i s i ó n T e l e c i n c o S. A. BROADCASTING FINANCIALS 2006 THIRD QUARTER RESULTS (January-September)

18 Control on Operating Costs OPERATING COSTS ( million) +4.7% % Includes DTT costs 2.23 Mn Includes DTT costs 9.15 Mn 9M04 9M05 9M06 Cost control allows margin protection FINANCIALS 18

19 Margin Expansion EBIT (in million ) EBIT/ NET REVENUES (in %) NET PROFIT (in million ) NET PROFIT/NET REVENUES (in %) %, 45.3% %, 32.7% 36.1% 25.5% 9M04 9M05 9M06 9M04 9M05 9M06 Operating margins grow despite increased competition FINANCIALS 19

20 Cash Flow Generation and Cash Conversion FREE CASH FLOW ( million) % 43.6% FCF/ NET REVENUES (in %) 39.1% 9M04 9M05 9M06 Strong cash generation with high cash conversion FINANCIALS 20

21 Consolidated Financial Results ( million) 9M06 9M05 Var. % Total Net Revenues % Total Costs (383.6) (366.3) 4.7 % Personnel (56.7) (54.1) 5.0 % Operating Costs (210.7) (203.7) 3.4 % Amortisation & Depreciation (116.1) (108.5) 7.0% EBIT % Pre-tax Profit % NET PROFIT after Minorities % EBITDA (1) % (1) Post-rights amortisation EBITDA/NET REVENUES EBIT/NET REVENUES NET PROFIT/NET REVENUES 45.9 % 45.3 % 32.7 % 46.6 % 45.5 % 31.7 % FINANCIALS 21

22 Consolidated Cash Flow Statement ( million) 9M06 9M05 Diff. In million Initial Cash Position Free Cash Flow Cash Flow from Operations Net Investments (107.0) (127.5) 20.5 Change in Net Working Capital (39.9) Change in Equity 3.3 (9.7) 13.0 Financial Investments (11.6) (2.0) (9.6) Dividends received Dividend payments (290.3) (172.6) (117.7) Total Net Cash Flow (109.4) Final Cash Position Free Cash Flow/Total Net Revenues 43.6% 44.8% FINANCIALS 22

23 Net Investments million million M M TV Rights non-fiction TV Rights Fiction Co-production Distribution Tangible & Intangible Fixed Assets FINANCIALS 23

24 TELECINCO Back up Slides Consolidated Financial Statements Balance Sheet FINANCIALS 24

25 Consolidated Profit & Loss Account (I) ( million) 9M06 9M05 %06/05 Gross TV Adv. Revenues -Telecinco -Other Discounts Net TV Advertising Revenues Other revenues (29.38) (29.48) % 3.9% 38.0% (0.3%) 4.4% 3.3% TOTAL NET REVENUES % Personnel TV Rights Amortisation Other Operating Costs Total Costs (56.73) (111.46) (210.72) (378.91) (54.05) (101.01) (203.76) (358.82) 5.0% 10.3% 3.4% 5.6% EBITDA adj * % * Post-rights amortisation FINANCIALS 25

26 Consolidated Profit & Loss Account (II) ( million) 9M06 9M05 %06/05 EBITDA* % Other Amortisation & Depreciation (4.65) (7.49) (38.0%) EBIT % Equity Consolidated Results (26.3%) Financial Results % EBT % Income Taxes (95.07) (97.22) (2.2%) Minority Interests (0.25) (0.03) Net Profit % * Post-rights amortisation FINANCIALS 26

27 Consolidated Balance Sheet* ( ml.) 9M Tangible assets Audiovisual Rights and Pre-payments - Third Party Rights - Fiction TV Rights - Co-production / distribution Pre-paId taxes TOTAL NON-CURRENT ASSETS Current assets Financial investments and cash TOTAL CURRENT ASSETS TOTAL ASSETS Shareholders equity Non-current Provisions Non-current payables Non-current financial liabilities TOTAL NON-CURRENT LIABILITIES Current Payables Current financial liabilities TOTAL CURRENT LIABILITIES TOTAL LIABILITIES FINANCIALS 27

28 DISCLAIMER Statements contained in this document, particularly the ones regarding any Telecinco possible or assumed future performance, are or may be forward looking statements and in this respect they involve some risks and uncertainties. Telecinco actual results and developments may differ materially from the ones expressed or implied by the above statements depending on a variety of factors. Any reference to past performance of Telecinco shall not be taken as an indication of future performance. The content of this document is not, and shall not be considered as, an offer document or an offer or solicitation to buy or sell any stock. 28

29 G e s t e v i s i ó n T e l e c i n c o S. A. BROADCASTING October